Ford Executive Chairman William Clay Ford Jr., with the 2021 Ford F-150 King Ranch Truck.
Nic Antaya/Getty Images
Elon Musk has made high-profile sales of
stock as of late, but a prominent insider at another auto giant is buying shares.
(ticker: F) stock has more than doubled this year, and its executive chair, William Clay Ford, Jr., just disclosed a large purchase of shares of the auto giant.
Ford Motor stock has rocketed 128% so far this year through Tuesday’s close. It has seen strong demand for its electric vehicles. The company reported a strong third quarter, and restarted its dividend.
Bill Ford, as the chairman is known, paid $8.5 million on Dec. 10 for 412,500 shares, a per-share average price of $20.62 each. According to a form he filed Tuesday with the Securities and Exchange Commission, Bill Ford bought the shares through a trust that now owns 4 million Ford shares. He owns another 11.4 million shares through other trusts.
Ford Motor didn’t immediately respond to a request to make Bill Ford, the great-grandson of founder Henry Ford, available for comment.
Bill Ford last purchased Ford Motor stock in August 2019, when he paid $8 million for 840,962 shares, an average price of $9.51 each.
Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.
Write to Ed Lin at email@example.com and follow @BarronsEdLin.